See the chart above generated from
2000Q1 till 2016Q2
There are two major downturn trends preceding the current one; that is,
1. DOT COM Bubble:
2000Q2 to 2001Q4 ==> 7 consecutive descending YoY GDP figures.
2. US Subprime Financial Crisis:
2007Q3 to 2009Q2 ==> 8 consecutive descending YoY GDP figures.
3. New bubble yet to be named???
2015Q1 to 2016Q2 ==> 6 consecutive descending YoY GDP figures.
This time
DIA,
SPY and
VOO are all reaching new highs while YoY GDP figures are heading downwards for 6 consecutive quarters already.